04102025 BUSINESS

THURSDAY, APRIL 10, 2025

BAHAMAS RANKS BELOW ‘INVESTMENT GRADE’ WITH THIRD CREDIT RATING FIRM

By NEIL HARTNELL Tribune Business Editor

THE Bahamas has now failed to achieve ‘investment grade’ status with any of the three major credit rating agencies after Fitch yesterday assigned a ‘BB-’ long-term ranking to this nation.

Asserting that “additional measures” will be required from the Government to hit “the ambitious but achievable” 50 percent debt-toGDP target ratio by 2030-2031, Fitch’s ‘BB-’ rating places The Bahamas in “speculative” territory that is below the agency’s ‘investment grade’ credit ratings of ‘BBB’ and up. Its ‘rating definitions’ describe the ‘BB’ category as signalling that a borrower has “an elevated vulnerability to default risk, particularly in the event of adverse changes in business or economic conditions over time”. However, the likes of The Bahamas still have sufficient “business or financial flexibility that supports the servicing of financial commitments”.

Gowon Bowe, Fidelity Bank (Bahamas) chief executive, told Tribune Business that while Fitch has rated The Bahamas “one notch higher” than both Moody’s and Standard & Poor’s (S&P) it is no surprise that it has joined the latter two in placing this nation at “junk” or “speculative” status.

A non-investment grade rating means The Bahamas is perceived by the agencies, as well as investors and the capital markets, as a more risky borrower with greater prospects

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

MEDITERRANEAN

Shipping Company (MSC) is “joining” the Grand Bahama Shipyard via a joint venture with the latter’s two existing cruise line shareholders, it was confirmed last night.

Dave Skentelbery, the Shipyard’s chief executive, in a statement to Tribune Business confirmed that the global global cargo shipping giant - which also owns a fast-expanding cruise business - is set to buy-in to the Grand Bahama-based operation once all necessary government and regulatory approvals are received.

“Subject to pending regulatory and government approvals, we are pleased to have MSC Cruises join the Grand Bahama Shipyard through a joint venture agreement with Carnival Corporation and Royal

Caribbean Group,” he said.

“We look forward to working with the Government on a path way forward.”

The Shipyard’s statement came in response to Tribune Business inquiries after this newspaper learned MSC was in negotiations to buy into the Grand Bahama Shipyard as the latter prepares to bring its $600m investment in two new docks to fruition.

Multiple well-placed contacts, speaking on condition of anonymity, confirmed that the global cargo shipping giant - which generated

$36.2bn in profits in 2022was looking to invest in the Grand Bahama-based facility although they gave different explanations for how any deal would be structured.

Tribune Business was initially informed that MSC was in talks to acquire the 20 percent equity ownership interest that the Grand Bahama Port

APPEAL OVERTURNS PI RESORT’S SITE APPROVAL

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

PLANS to develop a new resort at the former Paradise Harbour Club location have suffered a setback after the project’s original site plan approval was overturned on appeal.

The Subdivision and Development Appeal Board, in a March 31, 2025, decision rejected the Town Planning Committee’s permission for the HotelConsult project to proceed over a combination of procedural missteps and

the developer’s failure to produce any documents showing it has “authorisation” to construct the development’s parking lot on land leased from Atlantis.

The Board, chaired by attorney Dawson Malone, granted the appeal by One Ocean Condominium Association, the body that represents residents in the high-rise complex adjacent to the proposed hotel’s site, and sent the project back for reconsideration by the Town Planning Committee.

“The decision pertained to a site plan approval for

the proposed renovation and expansion of the Paradise Island Yacht Club [Paradise Harbour Club] located off Paradise Island Drive, New Providence,” the Appeal Board, noting that the case involved a site visit and numerous preliminary hearings before the full appeal was heard on February 4, 2025.

“This Board has adopted as a matter of law two positions on prior matters, which have not been overturned to our knowledge, and both appear to be present and prevailing at this time which militate

against the upholding of the approval.”

The Appeal Board reiterated that developers cannot obtain full site plan approval, as HotelConsult received from the Town Planning Committee, without first getting preliminary site approval. The latter, a requirement imposed by the Planning and Subdivision Act, was not obtained for the Paradise Island resort project, meaning that the full site plan approval granted to the developer was procedurally flawed.

PM ‘WON’T SUGARCOAT’ PERIL ON TRUMP TARIFFS

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Prime Minister last night said he “won’t sugarcoat the dangers we are facing” from increased “inflationary pressures”, a tourism and economic contraction, and reduced exports as a result of US tariff policies.

Philip Davis KC, acknowledging the peril The Bahamas faces due to its vulnerability to external shocks, conceded that the country is exposed to “new and very significant challenges” as a result of the global uncertainty and stock market turmoil unleashed by Donald Trump’s move to completely shred

long-standing international and commerce norms.

While the upheaval seemingly forced the US president to pause the imposition of tariffs on most countries, China excepted, for a period of 90 days until

By FAY SIMMONS Tribune Business Reporter jsimmons@tribunemedia.net

Harbour, demonstrates his administration’s “unwavering commitment” to incorporating solar power into the energy mix.

He said the project will be New Providence’s first

“Our

ship, which will see a 20-megawatt solar facility constructed in Coral

PHILIP DAVIS KC

GOWON BOWE

HOW BAHAMIAN BUSINESSES CAN SPEAK WITH A CLEAR VOICE

Imagine this: You walk into your office in Nassau, coffee in hand, and instead of tapping away at a keyboard or digging through e-mails, you simply say: “Hey, schedule my meeting for 2 pm”, and it is done. No clicks, no typing - just your voice. Welcome to the new age of business communication, where speech recognition and voice assistant technologies are becoming key players, not just globally but right here in The Bahamas. What once seemed like something out of a futuristic movie is now an every day reality. Technologies such as Apple’s Siri, Amazon’s Alexa, and Google’s voice assistant have evolved beyond telling the weather or playing your favourite song. Businesses are now using these tools to transcribe meetings, automate

tasks, send e-mails and even assist with customer service. It is quick. It is hands free. And in a world where time is money, it is becoming invaluable. In the corporate world, efficiency is everything. Voice assistants save time by handling routine tasks so employees can focus on more strategic work. For small and medium-sized businesses, the backbone of the Bahamian economy, this could be a game changer.

Imagine a Bahamian law office using voice transcription to create legal drafts, or a tourism operator using voice commands to update bookings or send real time alerts to guests. Less typing, fewer errors and faster turnaround times mean better service and improved productivity.

While The Bahamas is still catching up with

full-scale technology integration, there is growing interest. Some financial institutions have begun using artificial intelligence (AI) to streamline customer interactions, and call centres are exploring voice analytics to improve service delivery. Even local entrepreneurs are getting curious, especially as remote work and digital services become more common post-pandemic.

In sectors such as tourism, where guest experience is everything, imagine a future where a visitor can ask a smart speaker in their hotel room for recommendations, book an excursion or request room service — all in their own language. Voice technology could elevate the hospitality experience, setting The Bahamas apart from other destinations.

So, what does all this mean for the Bahamian economy? Adopting voice technology could boost efficiency, reduce operational costs and even create new technology-focused job opportunities. As businesses streamline, they can serve more customers, expand faster and potentially grow into regional players.

But, to fully benefit, The Bahamas needs to invest in digital infrastructure and digital literacy. Reliable Internet, data privacy regulations and training programmes are essential to make voice technology truly inclusive and impactful.

The good news? The Bahamas already has the advantage of a strong services sector and a population that adapts quickly.

With the right support, speech recognition could become a pillar of economic diversification and a way to blend our traditional strengths with cutting edge innovation.

Speech recognition and voice assistants are not just technology buzzwords. They are tools that can help Bahamian businesses speak more clearly, work more efficiently and reach new heights. As we talk about economic resilience and growth, maybe it is time we started talking to our businesses — literally. Because in the business world of tomorrow, your voice might just be your most powerful asset.

NB: About Keith Keith Roye II is an analytic and solutions-driven professional with extensive

experience in software development. He holds a BSc in computer science, and his career includes leading and delivering global software projects in various industries in

Procurement officers must be bold to protect own integrity and public

Afew weeks ago I sought to remind my colleagues, and the general public, of the ethical responsibility that procurement officers have. I had the opportunity to facilitate an ‘Ethics in Procurement’ seminar at the University of the Bahamas, which was attended by a number of private and public sector procurement officers.

We were able to share incidents that occurred in the workplace, and which were unethical, particularly in the area of contract awards. These, unfortunately, occur too often. Recently there has been a lot of discussion about the award of contracts and, again, as a professional in the procurement field I am duty bound to educate my colleagues and the public at large on this issue.

So today I write about the contract award processes because, if they are not done in a fair, competitive and transparent manner, it could become extremely controversial and create an embarrassing situation.

The goal of public procurement is to award timely and cost effective contracts to qualified contractors, suppliers and service providers for the provision of goods, services and infrastructure works to support government and public services operations.

The procurement officer for any government ministry, department or agency has, as their first and most important duty when seeking bids, to ensure that all procurement opportunities are published electronically or by newspaper advertisements in order to promote competition and transparency.

The Public Procurement Act 2023 states in section 36 (1), clauses a and b, that: “A notice of invitation to bid or invitation to pre-qualify in a bidding process, (hereinafter referred to as a procurement notice), shall be published in one or more national newspapers of wide circulation to reach sufficient bidders to ensure effective competition.” They are also to be published on the electronic procurement system we know as Bahamas Bonfire.

Procurement officers play an intricate role in the planning, selection, evaluation and awarding of bids because they often possess critical context about supplier interactions and specific requirements for the goods, works or services being requested. They should not be left out of the contract award process. Further, one should be very mindful of the Public Procurement Act as it pertains to high value contracts. The Act clearly states in section 18 (1) (c) that, where the estimated value of a proposed procurement contract is more than $2.5m, the tenders committee shall forward to the Board the recommendation for award together with all necessary documentation. Thereafter, the Board shall make a recommendation to the Cabinet and seek its approval.

If a procurement officer has factual information that a contract awarded to a vendor was not transparent, fair or competitive, or if the bidding process was averted other than for an emergency, he is duty bound to remind and advise his superiors of the necessary clauses in the Public Procurement Act so that he/she is not complicit with any wrongdoing.

This is vital to correcting the process if it was flawed, and even prohibiting any action that could lead to corruption or legal recourse by those who could have been potential bidders, particularly if the award was a direct award not in accordance with the Procurement Act’s section 22(1). It could be viewed as null and void.

Let me warn you that if you see something, and say or write something, this may not always be welcomed. As Sebastian Bals, chief procurement officer at Merck Group, highlighted in the CIPS Futures podcast, boldness is not a trait you see in job descriptions very often, but its power should not be underestimated.

As Bals noted, the “existential crisis” that procurement is facing today - in terms of its role and influence - is the perfect breeding ground to be bold. “If you want to move an entire organisation, you need to be bold in your thinking,” he said.

At a practical level, being bold or brave can translate to simple things such as directly asking to be invited to meetings you are not normally part of, which could benefit your role. Or by speaking up for yourself and your functional area, as well as celebrating your successes. Actions that help you raise your profile, and communicate the power of procurement more. So, during my lectures to the first cohort of the public

procurement course at the University of The Bahamas, I would say to them that despite your honourable actions in trying to save the reputation of your ministry or the Government you may be labelled as the trouble maker or one going against the grain, and may suffer from egregious acts by intolerant, petty persons with immense authority and power who would wish for a contract to be awarded contrary to the Procurement Act. They can deny you a well-deserved promotion, transfer you to another ministry without you requesting it, or even cancel a work contract.

Joe Biden, the former US president, made these remarks in his January 15, 2025, farewell speech. “We must not be bullied into sacrificing the future, the future of our children and our grandchildren. We must keep pushing forward and push faster. There is no time to waste,” he said. You will find there are certain individuals who are of the belief or assumption that they are not subject to the Public Procurement Act that governs us, all because of power, influence, status or personal agenda. But, no matter what your position is in government, accountability requires anyone involved in the public procurement process to be responsible for their actions and decisions related to the process.

As public servants, procurement practitioners and others involved in public procurement and contract administration, you are accountable and should be exposed to sanctions as a consequence for any behaviour that contravenes the Public Procurement Act. You also have an obligation to report and answer to a designated oversight entity, and the public, on the consequences of your actions and decisions.

Romans 13:1-2 states: “Every person is to be in subjection to the governing authorities. For there is no authority except from God, and those which exist are established by God. Therefore, whoever resists authority has opposed the ordinance of God; and they who have opposed will receive condemnation upon themselves.”

NB: Daniel Ferguson, FCIPS, retired Chief Petty Officer, Royal Bahamas Defence Force, was the lead investigator in the 2004 Lorequin Commission of Inquiry, a former chief supplies officer at the Ministry Health, procurement consultant for the Ministry of Finance. He is an adjunct facilitator on public procurement at the University of the Bahamas, and former component co-ordinator for the IDB-sponsored Public Financial Management Reform project, in particular the public procurement reform.

Mt Ferguson led the drafting team for the development of the Public Procurement Act 2021, and the public procurement regulations, and helped manage the development of the e-Procurement Supplier Registry. He is a Chartered Member of the Chartered Institute of Procurement and Supply with over 25 years of experience in public procurement.

FERGUSON DANIEL

SOLAR AND LNG DEALS FOR THREE OUT ISLANDS

By FAY SIMMONS Tribune Business

THE Davis administration has signed power purchase agreements (PPAs) to facilitate solar and LNG generation facilities in Abaco, Eleuthera and Exuma.

Prime Minister Philip Davis said the partnerships with EA Energy and the Exumas Renewable Energy Corporation will “transform” energy generation on the islands.

He said EA Energy will construct a 30-megawatt LNG generation facility with 13.4 megawatts of solar capacity in Abaco and a 14.7-megawatt LNG

generation facility with 10 megawatts of solar capacity in Eleuthera. Exuma’s Renewable Energy Corporation will construct an 8.5-megawatt LNG generation facility with 3 megawatts of solar capacity and a 5-megawatt battery system in Exuma.

“These partnerships will transform power generation on these islands, as we introduce LNG and utilityscale solar to these islands,” said Mr Davis.

“In Wilson City, Abaco, EA Energy will develop a 30MW LNG generation facility, complemented by 13.3MW of solar power and a 15MWh battery energy storage system. In Hatchet Bay, Eleuthera, they will build a 14.7MW LNG generation plant, with 10MW

HALF OF ISLAND IN DARK DURING TUESDAY OUTAGE

By FAY SIMMONS Tribune Business Reporter

ABOUT half of New Providence was affected by Tuesday night’s power outage, said Anthony Christie, BPL’s chief operating officer.

Speaking to reporters yesterday, Mr Christie said BPL lost about 83 megawatts of power generation after a unit at the Clifton Pier power station went offline leading to outages that lasted up to an hour.

“Last night at station A, which is at Clifton Pier, we lost about 83 megawatts of generation on the system. So immediately, our team accessed and determine what the root cause was and started restoration. We have a lot of spare capacity at the other plants, so we started bringing on those units,” said Mr Christie.

“The longest outage was for minimum amount of customers, about an hour. I was returned to service in two minutes. Some people were 20 minutes or less. So, it was a varying length of time but the longest was about an hour.”

He added the power outage spanned the entire island and affected about half of consumers and was not related to weather conditions.

“I would say half of the island [was affected]. I can’t get a specific number, but it went from west all the way

to Treasury Cove in the east, so a number of customers. It had nothing to do with weather, it was an auxiliary system at the power plant that caused the units to trip offline, and because that was a large amount of megawatts, it took us some time to get more generation back online,” said Mr Christie.

BPL released a statement advising consumers of the outage which was fully resolved in less than two hours.

“Bahamas Power and Light Company Ltd (BPL) apologises to its consumers in New Providence who were impacted by a system disturbance that occurred on our power grid at approximately 8.31pm, resulting in a partial loss of generation capacity at the Clifton Pier Power Station (CPPS),” said BPL.

“This disturbance caused outages in various communities across the island. Our operations and technical teams were promptly mobilised and worked diligently, to safely restore power to all affected customers. Full restoration was completed by 10:22pm.

“BPL remains committed to providing safe and reliable electricity throughout New Providence. We understand the inconvenience this outage may have caused and appreciate our customers’ patience and understanding during the restoration process.”

of solar capacity and a 5MWh battery system. In Georgetown, Exuma, The Exumas Renewable Energy Corporation will deliver 8.5MW of LNG generation, 3MW of solar, and 6MWh of battery storage capacity.”

Mr Davis said energy reforms will be rolled out across the country as it is “impossible” to hear the struggles residents and businesses have with the high cost of electricity and not take action.

He said partnerships with Family Island renewable energy providers demonstrate his administration’s commitment to ensuring affordable and reliable energy throughout the country.

“These upgrades reflect our belief that, as we roll

PEPPING

out our energy reforms, the Family Islands deserve the same quality and reliability of energy as New Providence. We are tackling the whole energy sector –from the way we generate and store energy to the way we transmit and distribute it,” said Mr Davis.

“We are transforming it all – working along with partners like EA Energy, the Exumas Renewable Energy Corporation and others, who have bought into our vision and understand our passion for a more affordable, more stable, and more inclusive future for all Bahamians. This new energy era will power the new Bahamian economy, lowering the cost of living and the cost of doing business, and opening

up doors of opportunity for all Bahamians.”

JoBeth Coleby–Davis, Minister of Energy and Transport said the PPA’s will be for 15 years and follow the build-operate-transfer (BOT) model, which will see the ownership of the assets transferred to BPL after this period.

She said there are key performance indicators and penalties for non- performance built into the agreements and solar generation facilities throughout the Bahamas are expected to come online by late 2026.

Mrs Coleby-Davis said the partnerships BPL have entered for generation and distribution are all part of a broader plan to reduce the utility’s legacy debt.

She said a financial plan has been formed which indicates that the Cooperation could take six to seven years to get “in a better position”.

“All of these plans that we’ve executed is working for us to cut the debt down. Having partnerships allows some of our finances internally to free up and therefore allows us to pay more into the debt,” said Mrs Coleby–Davis.

“We’ve had a financial plan rolled out and assessed, and we’d be providing further details of that publicly, but the plans show about six to seven years of us being able to get back in a better position.”

UP BAY STREET WITH POP-UP TRUCK PLAN

By ANNELIA NIXON Tribune Business Reporter anixon@tribunemedia.net

THE Tourism Development Corporation (TDC) is answering calls to bring more to Bay Street through a monthly food truck pop-up and ultimately a food truck park.

With its March 29 pilot pop-up on Charlotte Street a success, TDC executives told Tribune Business that the monthly event will eventually evolve into a booming industry for those wanting to enter the food truck sector. Noting that the TDC’s mandate is to help grow small and medium sized enterprises in the tourism field, Rafique Symonette, TDC chairman added “we also want to be responsive to stakeholders”.

He added: “The cruise ships have told us that they need us to create more products. So we, as TDC, we’re working on trying to create more products for the guests. So this is a new way for us to create an innovative spin to attract people off the ships, and meet our stakeholders needs.

“I think the key thing is that for local businesses, it gives them an opportunity to showcase their product. And we’re hoping that one food truck leads to a store which leads to a bigger operation. So we want to be part of that whole value chain to help them grow as businesses.”

Tasman Darling, a member of TDC’s board

of directors, added: “On an average, we have over 30,000 visitors visiting here on a daily basis, in the downtown area. So we thought it would have been advantageous for us to strategically position our event in and around that activity - the benefit, the value and the number of persons can come in and buy into our idea.

“And we position our activities in such a way that even on the cruise ship, as you embark in port, you can’t miss seeing activities from your cruise ship.”

TDC director of operations Dwight Gibson said they will invest in Bahamian businesses to create a food truck park downtown that will see a mixture of self-owned and TDC rented food trucks.

“So we put out a call. Ultimately, what the TDC wants to develop is a food truck park downtown with a variety of food offerings. Culinary wise, culinary tourism is very big, worldwide. We have a rich culture from a culinary perspective. So it’s a mixture, you’ll see from today, a mixture of culinary and arts and crafts.

But I think giving persons an opportunity to experience the food side of The Bahamas is key for us. So we’re putting a call out. We’re open to rotating food trucks, giving persons an opportunity to come out and show what they have to offer. Nobody is essentially disqualified, but definitely the variety is what keeps people interested in coming back.

“The concept behind the park is to provide trucks for persons that want to get into that industry, want to get into that field, but don’t necessarily have the trucks. So we provide a platform where they can come in, they can rent a truck, they can set up their offering in an environment where there’s a high standard. It’s an even playing field for everybody, and we’re not asking you to invest $30, $40, $50,000 for a truck. TDC will do that. We just give you an opportunity... Today, these are self-owned, but ultimately, as we get to our food truck bar, there’ll be a combination of self-owned trucks and TDC-provided trucks.”

Mr Gibson said the Family Islands will also have their chance, noting the pop-up food truck opportunity is open to them as well. He urged entrepreneurs to register their business on the TDC website so “when we’re looking to do our events, we have a registry of service providers that we can tap into”. He said with their focus also resting on the development of the Family Islands, they are discussing how to “replicate” the event on the other islands as well.

As for the TDC’s first pop-up, Mr Gibson said Charlotte Street’s proximity to the cruise port plays a critical role. He said they’re “feeling out the good, the bad, the pros, the cons” adding that the location was convenient.

Noting the trickle-down effect, Mr Gibson said with more tourists leaving the ship to enjoy the food trucks, the more business taxi drivers, tour operators and other local entrepreneurs are bound to get. He said: “It’s not just about the pop-up, but it’s about how

to join our team at The Bahamas

Fund, a Real Estate Investment Trust (REIT). The ideal candidate will be responsible for handling key fnancial and administrative tasks, ensuring smooth operations and accurate record-keeping. This role requires exceptional attention to detail, excellent communication skills, and the ability to manage multiple priorities in a fast-paced environment.

Key Responsibilities:

Financial and Bookkeeping Tasks

Prepare and issue invoices to tenants for rent, utilities, and other charges. Maintain and update rent rolls, ensuring accuracy and timely reporting.

• Process and pay invoices from vendors and suppliers, adhering to payment schedules and verifying amounts.

Monitor and reconcile cash balances at the bank, ensuring adequate funds are available for operations.

Monitor, pay and maintain Real Property Tax records for the fund while also ensuring that all Tax Compliance Certifcates are current.

• Record and categorize fnancial transactions in the accounting system. Assist with month-end and year-end fnancial reporting and reconciliations.

Administrative Duties

Maintain organized records of contracts, leases, and correspondence with tenants and vendors.

• Assist with preparation of tenant statements and fnancial summaries. Handle correspondence related to billing inquiries and resolve issues promptly.

• Support the management team with scheduling, fling, and other administrative tasks as needed.

Compliance and Reporting

Ensure compliance with regulations and internal policies related to fnancial management.

Assist in preparing documentation for audits or fnancial reviews.

Qualifcations and Skills:

Minimum of an Associate degree in Business, Accounting or Related feld 3+ years proven experience as a bookkeeper or administrative assistant, preferably in real estate or property management.

Profciency in accounting software (e.g., QuickBooks, Yardi, AppFolio) and Microsoft Offce Suite (Excel, Word, Outlook).

• Strong understanding of bookkeeping principles, fnancial processes and the ability to read fnancial statements.

Excellent organizational and time management skills with the ability to prioritize tasks. Attention to detail and accuracy in all aspects of work.

Effective communication and interpersonal skills.

• High level of integrity and ability to handle confdential information.

Please apply online at: https://www.rfgroup.com/careers Deadline to Apply is Friday, 11th April, 2025

DPM discusses initiatives for cruise tourism growth

THE deputy prime minister discussed initiatives designed to enhance The Bahamas' growing cruise tourism market during an industry trade show this week. Chester Cooper, also minister of tourism, investments and aviation, addressed some 30 media representatives about The Bahamas' plans aimed at attracting more cruise lines and enhancing the overall visitor experience.

FINANCIAL CONTROLLER

WANTED

A medical facility is actively seeking an experienced fnancial controller to undertake all aspects of its fnancial management, coordination and completion of budget and fnancial forecasts including but not limited to preparing and distributing timely monthly fnancial statements; overseeing cash management functions; managing all accounting operations including billing, accounts payable, accounts receivable, cost accounting, inventory accounting payroll and bank reconciliation functions; manage and comply with governmental reporting requirements and tax flings and additional controller duties as may be necessary.

Interested persons may submit a resume via e-mail to info@sharonwilsonco.com along with two references from previous employers.

Only short-listed applicants will be contacted.

Pepping up Bay Street with popup truck plan

FROM PAGE B3

do we spread that economic dollar, that tourist dollar, across all sectors of the industry?”

“I think obviously for our tourist visitors, it’s very easy for them to access. For

locals, again, being centre of Bay Street it’s easy to access. So it probably will be a location we’ll keep for a while. But it’s all about, bringing activity to Bay Street, giving our tourists and our locals something to do on the weekends. So

look for it on a monthly basis.

He added: “This time we picked the last Saturday in the month. We want to tie it to a combination of things, right? So obviously, when do we have the most cruise ships in so we can maximise, obviously, the visitor traffic. When do we have the least amount of things going on locally to maximise? I think for us, it’s all about finding that sweet spot and being consistent with that date, whatever that date is that we decide.”

MEDIA representatives at the Seatrade Cruise Global 2025 conference.

LATIA DUNCOMBE, director-general at the Ministry of Tourism, Investments and Aviation, speaking at the Seatrade Cruise Global 2025 event.

CHESTER COOPER, deputy prime minister and minister of tourism, Investments and aviation, share's insights about The Bahamas' vision for continued growth in the cruise industry at the Seatrade Cruise Global 2025 conference.

MIKE MAURA, the Nassau Cruise Port's chief executive, discussing infrastructure expansion and new port experiences at the Seatrade Cruise Global 2025 conference.

Low-emission power plan for Family Islands

By ANNELIA NIXON

A RESELLER agree-

ment has been announced with the goal of bringing low-emission power technology to The Bahamas.

Outlier Energy announced the strategic reseller agreement with

US-based Mainspring Energy, in collaboration with Bahamas Power & Light (BPL), which has promised to provide clean energy microgrids to the Family Islands. The agreement will include long-term Power Purchase Agreements.

The Mainspring Linear Generators are hailed as the “ideal foundation” for microgrid systems, with

each producing 250kW of power. The power is said to be generated “from a flameless, non- combustion reaction using gaseous fuels, resulting in ultra-low emissions- including nearzero NOx”.

In a statement, Outlier Energy said: “When operating on fuels like LNG or LPG, the system reduces criteria pollutants (local air pollution) by approximately

95 percent compared to traditional diesel generators.

“Unlike solar energy systems, which require diesel backup during nighttime or cloudy conditions, Mainspring’s generators provide 24/7 power and emission reductions across 100 percent of the energy load. This makes it a reliable, sustainable solution that can operate independently, alongside or actively

of the Elevator Consultant is responsible for Identifying areas where elevator malfunctions are evident and arranging repairs for the elevators located at FINCEN Limited.

Key Responsibilities:

• Perform extensive hardware and software modifcations of both the elevator signal and speed control systems to accommodate new safety code required updates. Replace the existing geared traction machines on each elevator with new geared traction machines to include new code required secondary rope grippers and disk brakes for enhanced safety. Totally run diagnostics on the three (3) MCE VFMC Series controllers to identify any signal or speed control malfunctions and perform any corrective activities as required.

• Make any speed control changes required to interface the new geared traction machines with the existing controllers, especially related to the new encoded interface.

• Perform full load full speed safety tests on each elevator, after machine replacement

Key Qualifcations & Experience:

• Bachelor of Science degree in Physics or Electrical Engineering

• Extensive Experience in both installing and adjusting elevator systems Ability to work in a self-motivated environment with little supervision

Please apply online at: https://www.rfgroup.com/careers

Deadline to Apply is Friday, 11th April, 2025

integrated and paired with renewable energy sources.”

The system is said to be suitable for areas including residential zones. It is also said to be fitting for hospitality and tourism settings as it has “no exhaust stack and sound levels of just 65 dBA at 10 meters - quieter than most air conditioners - the units can be discreetly installed with little to no

impact on guests or local ambience”.

“Outlier is proud to support the government’s vision for energy independence, resiliency, and sustainability in the Family Islands,” said Judson Wilmott, regional manager of Outlier Energy Bahamas Ltd.

Bahamas promoted during global cruise celebrations

CHESTER COOPER, deputy prime minister and minister of tourism, investments and aviation, promotes The Bahamas at the Seatrade Cruise Global 40th anniversary celebration at Miami Beach Convention Centre. Seatrade delegates viewed the trends and the emerging future of cruising.

Photos:Kemuel Stubbs/BIS

The role

MSC’s GB Shipyard buy-in now revealed

Authority’s (GBPA) affiliate, Port Group Ltd, holds in the Shipyard. Apart from Port Group Ltd, the other two shareholders are Carnival and Royal Caribbean, both of whom own 40 percent each, and it was suggested that MSC would acquire a portion of their interests, too.

The resulting ownership structure would see Grand Bahama Shipyard’s ownership split evenly between Carnival, Royal Caribbean and MSC, with each owning one-third of the equity. However, this newspaper was subsequently told this description of the deal being negotiated is incorrect, and that Port Group Ltd is not selling its stake, although it was confirmed that MSC is indeed seeking to buy into the Shipyard. Instead, it was suggested that MSC would provide financing or a capital injection into the Shipyard. And, in return, it would have significant control and say over all key decisions made by and involving the Shipyard. “I heard MSC is buying into the Shipyard,” one contact said, “but they bought it just like on the paper. They injected some

cash into it, and no decision can be made without going to them.”

All parties involved are signed-up to non-disclosure agreements (NDAs) over the Shipyard deal. The Shipyard’s statement last night did not detail how MSC’s investment will be structured, and how its ownership may change, although it appeared to confirm it does not involve Port Group Ltd’s stake and is instead a partnership with its two cruise competitors. One source, well-placed to know of developments, went completely silent when Tribune Business directly asked whether MSC is buying into the Shipyard. They eventually said: “I can neither confirm nor deny”, and: “You’re not far off the mark with any of this.”

The potential Shipyard deal has emerged just as MSC Cruises, the shipping conglomerate’s cruise group, is becoming increasingly active in The Bahamas and wider Caribbean region. It last week unveiled what it described as the world’s largest cruise terminal at the Port of Miami, spanning more than 492,000 square feet and capable of processing up to

36,000 passengers daily and handling up to three ships at once.

Some four ships will be sailing from that terminal this year to destinations including The Bahamas and MSC Cruises’ private island of Ocean Cay. And MSC is today hosting an event on Ocean Cay related to its foundation that is due to be attended by around 200 persons, including Prime Minister Philip Davis KC and his entire Cabinet plus senior GBPA officials.

MSC has also been deeply involved in plans to redevelop Freeport harbour in partnership with Royal Caribbean and ITM Group. And Rupert Hayward, a GBPA director, confirmed earlier this year that the two cruise companies are teaming with the Freeport Harbour Company to redevelop Billy Cay into a new cruise port and amusement park.

Teaming with Carnival and Royal Caribbean, and investing in the Shipyard, would make sense for MSC as it would enable it to influence when its vessels could access the facility for repairs and refits rather than have its two cruise rivals determine the schedule. And its involvement,

and potential investment, will help ease and share the burden of financing the Shipyard’s new multi-million docks.

Grand Bahama Shipyard has previously said it is aiming to more than triple its annual turnover to $250m within five years after its $600m investment in the two new docks left it “poised to revolutionise the landscape of ship repair”.

The first, smaller dock, will have the capacity to lift ships weighing up to 93,500 tonnes and accommodate those up to 357.39 metres long and is due to arrive in Freeport in the fourth quarter and dock its first ship on New Year’s Day 2026. The other “mega dock” will be able to lift 130,000 tonnes and accommodate ships up to 413.96 metres long. Set to arrive in Freeport in the 2026 third quarter, it will be in service before year-end 2026.

MSC’s Grand Bahama interests also extend beyond the Shipyard. For Terminal Investment Ltd, its port operations and infrastructure arm, is part of the consortium alongside Blackrock, the world’s largest asset manager, that is seeking to acquire CK Hutchison’s non-Chinese

port interests which include majority ownership of the Freeport Container Port and a 50 percent stake in Freeport Harbour Company.

That deal, though, has been delayed after running into political headwinds from Beijing amid the escalating retaliatory tit-for-tat tariff war between China and the US, which yesterday saw the latter raise tariffs on Chinese imports into the US to 125 percent.

There have also been suggestions that MSC is in talks with the St George family to acquire its 50 percent

interest in the GBPA and Port Group Ltd, although this could not be confirmed before press time. And this newspaper has also been unable to corroborate whether any such negotiations involve the Hayward family, which holds the remaining 50 percent.

The GBPA and the Government are presently in arbitration over the latter’s demand that Freeport’s quasi-governmental authority pay $357m to reimburse it for expenses allegedly incurred in providing public services that exceed tax revenues generated by the city. The Government is thus arguing that the GBPA is liable to pay the difference as required by the Hawksbill Creek Agreement.

POWER PURCHASE DEAL SIGNED FOR SOLAR IN NEW PROVIDENCE

FROM PAGE B1

energy as a crucial component of our national energy strategy. This project will deliver the first significant solar installation in New Providence,” said Mr Davis.

“At Coral Harbour, Eco Energy Bahamas will construct a 20-megawatt solar facility supported by a 5-megawatt-hour Battery Energy Storage System.

This installation will inject 20 megawatts of clean, renewable power into our grid – transforming how we generate electricity in New Providence and setting the standard for future solar projects throughout our islands.”’

Mr Davis said the partnership is “just the beginning of a solar revolution” which will see lower cost of electricity and more economic growth.

“Moving forward, utility scale solar will be the norm for our islands, not the exception, as we break free from outdated energy models that have constrained our economic growth and national development,” said Mr Davis.

“This new energy era will power a new reality where the cost of electricity is no longer a barrier to growth and success. The dawn of this solar era will illuminate new possibilities for our nation, powering communities, energising businesses, and creating new pathways to prosperity.”

JoBeth Coleby–Davis, Minister of Energy and

Transport, said the PPA will be for 15 years and follow the build-operate-transfer (BOT) model, which will see the ownership of the assets transferred to BPL after this period. She said there are key performance indicators and penalties for non- performance built into the agreements and solar generation facilities throughout the Bahamas are expected to come online by late 2026.

“Our PPAs include clearly defined key performance indicators and penalties for non-performance. Further, clear provisions have also been included to lock down rates, which will ultimately protect Bahamian households and businesses,” said Mrs Coleby-Davis.

“The PPAs are signed for 15 years. They’re build, operate, transfer. So, at the end of the term, they would be transferred to ownership of BPL, the plants, and for them to continue whatever their plans are in terms of how they operate. The bulk of them are working to start [construction] third quarter of 2025 and hopefully for them to come online by third quarter 2026.”

She said the cost the energy will be sold by providers to BPL will be “very low” and details will be contained in the documents set to be tabled in Parliament.

“There are different costings, because some of them are just particularly solar and where you just have solar, it’s maybe like 9 to 11 cents, in different amounts, and so the costs are very low. We’ll be tabling all of the legislation in the House and all of that detail would be in there,” said Mrs Coleby-Davis.

Bahamas ranks below ‘investment grade’ with third credit rating firm

of defaulting on its debt than a nation that is at investment grade. This means The Bahamas will have to pay more for any borrowings which, in, translates to higher interest rate and debt servicing costs that, ultimately, have to be borne by taxpayers.

So-called “junk” or “speculative” status can also deter investors as they can become nervous about a country’s ability to manage its finances. The Prime Minister, in unveiling the mid-year Budget at end-February, said the Government had hired Fitch to assess The Bahamas’ creditworthiness, fiscal position and economic prospects as part of a strategy to restore this nation to ‘investment grade’ status.

“This administration announces an important new objective: Securing an ‘investment grade’ credit rating for The Bahamas within the next three years,” Philip Davis KC said.

“To support this goal, we have engaged Fitch Ratings as a third credit rating agency to assess our financial standing alongside Moody’s and S&P. Achieving an ‘investment grade’ rating requires a minimum of ‘Baa3’ from Moody’s and ‘BBB-’ from both S&P and Fitch.

“Reaching this milestone would affirm The Bahamas’ strong creditworthiness and low investment risk, reinforcing our commitment to sound financial management. We intend to implement the necessary reforms to make this vision a reality.”

Mr Bowe, though, yesterday asserted that it was unrealistic to expect Fitch’s rating of The Bahamas’ creditworthiness to be substantially different from that of Moody’s or S&P.

He added that the message from all three, even after Moody’s upgraded this nation’s outlook from ‘stable’ to ‘positive’, is that The Bahamas “is where it is” and there is little prospect of a “multi-notch” improvement to investment grade within the next year.

“It would be naive of any policymaker to believe the rating agencies will vary significantly,” the Fidelity chief said. “The reason would be because they are using the same information, looking at the same fundamental methods and calculations.”

He added, though, that the Prime Minister’s expectation was not that The Bahamas would receive an ‘investment grade’ rating from Fitch but that its assessment would detail “the areas to focus on” for this nation to escape ‘junk’ and ‘speculative’ territory.

“They were one notch above Moody’s and S&P but with a ‘stable’ outlook,” Mr Bowe told Tribune Business. “I think it says The Bahamas is where it is; the fact all rating agencies are consistent across the whole spectrum...

“It kind of indicates there is no extra ability in the country driving what I call multi-notch movements over the next six to 12 months. All of them kind of confirmed our fiscal affairs are stable with threats; the threat of hurricanes. They all highlighted the threat of lack of discipline in expenditure, the threat of revenue

projections not being met, or the burden of not meeting fiscal projections.

“It’s less about the rating and outlook and more what the reports are saying that the Government needs to be focused on; what the administration and Opposition need to be focused on,” Mr Bowe added, “a longterm model and structure for taxation, how we have an equitable tax system that provides revenue.”

While disagreeing with the rating agencies’ over their argument that the Government’s debt maturities are too concentrated in the short-term, and instead should be longer term, he argued: “There needs to be focus on debt reduction in times of good so we have headroom in times of bad. The focus should be less on the debt’s duration and more on the ability to access the markets for capital.

“It’s a tempered and positive rating issued by Fitch. It highlights the areas we need to focus on. We should not expect significant variance between them [rating agencies].” Fitch, in placing a ‘stable’ outlook on The Bahamas, hinted none-too-subtly that the Government will need to introduce further fiscal austerity measures - new and/ or increased taxes and possibly spending cuts, too - to hit its fiscal targets.

“The ratings reflect the Commonwealth of the Bahamas’s high GDP per capita and strong governance, as reflected in recent progress on structural fiscal consolidation. These strengths are offset by low potential growth, heavy reliance on tourism and the country’s exposure to

The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.

POSITION AVAILABLE

JR. CUSTOMS BROKER

We are looking for a Jr. Customs Broker. The Jr. Customs Broker would assist with the clearance of goods through customs, tariff classifcation, and communicate with clients.

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nterested persons should submit resume with photo to Portagency429@gmail.com

climate-related shocks,” Fitch said.

“The ratings are also constrained by high interest and debt burdens relative to peers, although these are on an improving trend due to ongoing fiscal consolidation efforts. Government finances have improved markedly over the past couple of years, with the fiscal deficit declining to 1.3 percent of GDP in the fiscal year ended June 2024 from 3. percent in fiscal year 2022-2023.

“The primary surplus reached 2.9 percent in fiscal year 2023-2024, the highest level in at least 25 years. This fiscal consolidation reflects strong growth in revenue to 20.7 percent of GDP in fiscal year 20232024 from 16.2 percent in fiscal year 2017-2018, as a result of improved revenue administration and some new measures,” Fitch added.

“Fitch forecasts additional revenue growth,

including from the new global minimum tax of around 1 percent of GDP, and further revenue mobilisation, which will improve the deficit to 0.5 percent in fiscal year 2024-2025. We expect a surplus of 1.2 percent in fiscal year 20252026, which is less than the 2.8 percent expected by the authorities, based on their expectation of additional revenue measures.”

Turning to the debt side, Fitch added: “Fiscal consolidation aims to decrease the still-high debt-to-GDP ratio, which was 81.5 percent of GDP in fiscal year 2023-2024, including guaranteed public sector debt (2.2 percent of GDP). Debt has declined considerably since its fiscal year 20192020 peak of 99 percent, but is still well above the ‘BB’ median of 53.3 percent and the pre-COVID ratio of 65 percent.

“Fitch expects it to fall to 77.7 percent by fiscal year 2025-2026. The 50 percent of GDP target by fiscal year 2030-2031 is ambitious but achievable with additional measures. Most government debt (57 percent) is in the domestic market and is generally of

shorter duration, exposing the Government to rollover risk, although, it does have non-concessional financing from multilateral and bilateral partners and may tap the external market this year. Interest-to-revenue is high at around 20 percent, although we expect it to decline.”

Pointing to The Bahamas’ high vulnerability to external shocks, either hurricane and climate-related threats or global recessions, Fitch said: “As a small, tourism-dependent economy, The Bahamas is exposed to external shocks, most notably its dependence on imported goods, its exposure to the US economic cycle and its presence within the hurricane belt.

“The Government has instituted some mitigants to these risks, including the deployment of insurance and contingency funds to address the impacts of a large hurricane. Even so, a severe shock could have serious implications for the economy and the Government’s finances.”

The Property Manager is responsible for ensuring that cost-effective, environmentally sound and sustainable operation of the Bahamas Property Fund Buildings. This is both a technical oversight and relationship management role for the self-motivated individual who also performs administrative tasks as necessary or assigned.

The areas of responsibility include all equipment and materials involved with lighting, ventilation, air-conditioning, electrical distribution, water supply, plumbing, sanitation, public health, fre protection, safety systems, elevators and the aesthetic upkeep of the building. To facilitate these procedures, a maintenance program needs to be established and maintained.

This position is a highly visible one that is responsible for the total upkeep of the premises, ensuring all areas of the facilities function as they were designed and all services are available as required.

Key Responsibilities:

Building Management

• Plan and schedule all routine maintenance in order of priority

Maintain all time and cost records for service procedures

Conduct monthly inspection of all maintenance and system processes.

• Diagnose all problems and initiate all necessary action

Direct all work order requests to be performed by independent contractors

• Maintain all materials and equipment inventories

Supervises all routine painting assignments and secure quotes for larger projects

• Recommend replacement of expired or expiring systems

Performs inspections of all restroom facilities as required several times daily

• Ensure that safety regulations are adhered to and liaise with Government bodies to verify compliance

• Conduct Vendor performance review and submit recommendations

Manage the budget to ensure that value is received for money invested and that all work is completed in a timely manner

Vendor Relations

• Assists in the negotiation and development of all service contracts with service providers under the direction of the management company

Establish and maintain a system that tracks invoices and payments

• Conduct due diligence check and signoffs on completed work

Report inconsistencies and potential concerns to Senior Management

Interfacing with Clients

Establish and maintain communication and effective working relationships with all tenants and the general public

• Triage, address and escalate client concerns and complaints as necessary

Review, update and maintain Client Agreement records

• Conduct routine client check-ins

Provide support when necessary in leasing negotiations and activities.

Administration

Complete and submit monthly report on lease payments and related billings

• Supervises all building employees employed by the Bahamas Property Fund and conduct payroll reporting

• Complete parking ticket reconciliation and submit report

Responsible for any additional duties assigned by Management

Qualifcations and Skills: A Bachelor’s degree in Real Estate, Property Management , Business Administration or a related feld preferred

• Property management certifcation such as Certifed Property Manager (CPM) is a strong asset.

We are looking for an energetic individual to work with us handling cruise ships, cargo vessels and yachts.

If you are outgoing and energetic, punctual, a good communicator and able to multitask and with the ability and willingness to work odd hours and weekends we’d like to meet with you.

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Applicants should:

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• Be able to multi-task.

• Possess good communication skills.

• Have basic computer skills including Excel & Word.

• Be punctual.

• Be a team player

Interested persons should submit resume with photo to: Portagency429@gmail.com

• Experience working with rent rolls, tenant billing, and real estate accounting is a plus.

At least 3-5 years proven experience in property management, preferably at commercial real estate property, hotel or property management frm. Familiarity with different property types (offce buildings, retail spaces, storage facilities)

• Excellent organizational and time management skills with the ability to prioritize tasks.

• Attention to detail and accuracy in all aspects of work.

Ability to negotiate contracts, address tenant issues and provide clear reports to management

• Profciency in building management software (e.g., Yardi or AppFolio) and Microsoft Offce Suite (Excel, Word, Outlook).

• Strong understanding and management of property budgets and cash fow Knowledge of lease agreements and the ability to read fnancial statements Effective communication and interpersonal skills.

Please apply online at: https://www.rfgroup.com/careers Deadline to Apply

Position Overview:

Property Manager

APPEAL OVERTURNS PI RESORT’S SITE APPROVAL

“Secondly, the proposed development is to be conducted on property not owned by the second respondent [HotelConsult] and it seems to be no authorisations have been produced even at the time of the appeal (if admissible),” the Appeal Board added.

This refers to HotelConsult’s plans to build its parking lot on land leased from Atlantis. The issue was raised during the February appeal hearing by Christina Davis-Justin, attorney for the One Ocean residents.

She argued then that the original site plan, submitted on March 5, 2024, included a seven-storey hotel and a two-story parking garage on lot 13. Then, a revised plan, submitted on April 29, 2024, relocated the garage to lot eight without public

notice or hearing. Lot eight, the proposed new site of the parking garage, is owned by Atlantis and the developer had yet to secure a lease with the mega resort. “It is inconceivable how you can grant an approval, a site plan approval, which is a legal term of art, to a proposed development that you have not publicly consulted on, as required by the Act,” said Ms DavisJustin. “And you’re also giving approval to a person who has not actually shown that they have standing or legal authority to make a development.”

Roosevelt Whyms, the Appeal Board’s deputy chairman, questioned Tamika Thompson, HotelConsult’s attorney, on the status of the lease talks with Atlantis. She said her client is still in “favourable” negotiations with Atlantis.

Mr Whyms highlighted that, during appeal

hearings, developers must provide proof of ownership in the form of a conveyance or documents to show they have been granted permission to occupy a site via a lease agreement or an agreement to operate. When pressed on whether these documents have been requested, and when they will be provided, Ms Thompson said they have been “requested under the conditions but not yet provided” and she could not give a timeline for doing so. “I cannot say at this time, and I do not wish to put a timeline before the Board and not be able to fulfill it,” she conceded.

Taking this all into consideration, the Appeal Board ruled on March 31, 2025: “In light of the foregoing, the appeal must be allowed by setting aside the decision and referring the matter back to the Town Planning Committee to

rehear the application in accordance with the Planning and Subdivision Act and render a decision in accordance with the procedures set out therein.”

This, certainly as far as HotelConsult is concerned, does not mean the end of its plans - just delay, and potential time and money, in having to go through more planning hearings. Besides the Paradise Yacht Club project, it has also acquired 107 Rose Island acres that represented the former Ritz-Carlton project for $10.3m.

Its plan for the site, according to a Central Bank report, is to develop a restaurant, bar, five bungalows, pool lounges, cabanas and the expansion of existing dock and marina, and employ 100 workers “at peak” and another 80 “incremental” staff.

Tribune Business sources, as well as documents seen by this newspaper, confirm that HotelConsult’s principal is Harald McPike, the Paradise Island-based, Austrian born billionaire who founded the quantitative

investment manager, Quan-

tRes. The contacts listed on the original planning application all had e-mail addresses of “mcpike.com”.

This newspaper understands that HotelConsult and Mr McPike have quietly assembled a significant high-end real estate portfolio on Paradise Island as well as Rose Island. Besides the Paradise Harbour Club and former Columbus Tavern site, they have also acquired the Paradise Island residence of Mohammed Harajchi, principal of the collapsed Suisse Security Bank & Trust, as well as property owned by the late George Myers. The proposed Paradise Yacht Club will feature 101 units overlooking Nassau Harbour via a seven-storey main building with a footprint of around 19,000 square feet. The 101 units, ranging from approximately 370 to more than 1,000 square feet, will each have a balcony with harbour views.

The ground floor will host amenities such as a restaurant and retail areas, along with an outdoor gym and swimming pool

HotelConsult has pledged that the project will create 100 permanent jobs and a similar number of

FDA reverses course on telework after layoffs and resignations threaten basic operations

By MATTHEW PERRONE AP Health Writer

WEEKS after ordering Food and Drug Administration employees back into the office, the agency is reversing course, allowing some of its most prized staffers to work remotely amid worries that recent layoffs and resignations could jeopardize basic functions, like approving new medicines.

An internal email obtained by The Associated Press states that FDA leadership are "allowing review staff and supervisors to resume telework" at least two days a week. The policy shift was confirmed by three FDA staffers who spoke to the AP on the condition of anonymity to discuss internal agency matters. The message was sent Tuesday to some of FDA's hundreds of drug reviewers. Staffers said a similar

construction posts, and generate up to 30 percent of its energy needs from renewable sources.

During the initial public hearing for the development, residents voiced concerns over the extra traffic it will generate in a residential area of Paradise Island. They also expressed opposition to the proposed rezoning of one of HotelConsult’s land parcels, lot 13, from residential to commercial to facilitate a 74-space parking facility.

The developers later amended their application, removing the plans to convert lot 13 to a parking garage and opting to build a 100-space car park on land leased from Atlantis. The site will take up a portion of Atlantis’ laundry and utilities facilities, which is already commercially zoned.

The Town Planning Committee, on granting its approval, said the proposed parking garage is to be built simultaneously with the renovation of the Yacht Club building, and the lease agreement between HotelConsult and Atlantis must be submitted to the Department of Physical Planning prior to it reviewing the building permit application.

policy was communicated to reviewers who handle vaccines, biotech drugs and medical devices, although not necessarily in writing. It's the latest example of the Trump administration's chaotic approach to overhauling the federal health workforce, which has included firings, a scramble to rehire some employees, and then additional layoffs last week of an estimated 3,400 staffers, or more than 15% of the agency's workforce.

Last week's cuts included entire offices focusing on FDA policy and regulations, most of the agency's communication staff and teams that support food inspectors and investigators.

PM ‘WON’T SUGARCOAT’ PERIL ON TRUMP TARIFFS

early July, Mr Davis said the Government has already reached out to US officials over the negative impact for the Bahamian economy and is seeking to develop a unified Caribbean lobby against these measures with regional counterparts.

Mr Trump yesterday said most nations will face a 10 percent tariff on their exports to the US until July. This makes zero difference for Bahamian exporters, such as Morton Salt, Polymers International and the crawfish industry, given that 10 percent was the rate initially imposed on this nation, and Mr Davis last night said the Government is examining ways “to cushion the fall-out” for such companies.

He also suggested that the Government’s energy reforms, which are designed to make electricity more affordable for both Bahamian households and businesses, and increase the country’s economic competitiveness, plus the just-implemented 50 percent VAT rate cut on all unprepared food to 5 percent, could not have been better timed and may help to ease “unbearably high” cost of living pressures.

“A new 10 percent base rate tariff for goods imported into the US now applies to more than 100 countries, including ours. Other countries are also

subject to additional or higher tariffs,” the Prime Minister said in a statement. “If the 10 percent tariff on Bahamian goods imported into the US remains, Bahamian exporters in multiple industries will soon feel the impact.

We have been in contact with US officials regarding the change in policy, and we are working with fellow Caribbean countries on collective diplomatic efforts.

“We are also speaking with Bahamian exporters and working to understand whether there are shortterm policies we could enact to cushion the fallout.

My government has taken trade diversification seriously from the start – which means that for the first time, our country has in place an agency dedicated to expanding trading opportunities, and a national trade policy,” he added.

“Significant efforts to create new trade relationships were already underway, and those efforts will now be intensified.”

Turning to other negative effects from the US tariff policy, Mr Davis added:

“The new tariffs are likely to cause new inflationary pressures, which would mean higher prices for Bahamian consumers.

“For a country like ours, higher prices will add to what is already an unbearably high cost of living. We are very concerned about

the impact on Bahamian families. One of the key drivers of high prices in The Bahamas, for both families and businesses, has been the cost of electricity, which is why we’ve worked hard to create our country’s first nationwide, comprehensive energy reforms.

“Much-needed and long overdue upgrades to the electricity grid are underway, and today, in fact, we are signing a number of additional agreements to power our islands with solar energy. I won’t sugarcoat the dangers we are facing right now, due to escalating trade tensions around the world, but I am thankful we will face this new crisis with these crucial price-reducing energy reforms in motion,” the Prime Minister said.

“In addition, the VAT reduction on all food sold in our markets is providing some relief. We understand how hard it is to make ends meet and we will continue to look for opportunities to reduce the burdens of high prices. We will also intensify and speed up our efforts to grow more of what we eat at home.”

Mr Davis also acknowledged that “another significant risk to The Bahamas is that a slowdown in the US economy will slow our tourism industry. We will be convening industry leaders as we evaluate options for mitigating the risks we face, if the new

tariffs are not significantly unchanged as US policy evolves....

“Today, we face new risks amid enormous uncertainty. The US tariffs are the highest they’ve been in more than a century and since then, of course, the world’s economies and supply chains have become intertwined in complex ways, making it difficult to predict with precision what happens next,” the Prime Minister added.

“It’s important to be straightforward with you about how the new tariffs will affect us. The changes –and the turbulence in global markets which has followed – mean we are now facing new and very significant challenges.

“Brothers and sisters, we may be in unchartered territory, but we know how to survive storms. We have always found a way to create opportunities out of uncertainty; to forge clarity and purpose from chaos and confusion.”

EX-EEOC COMMISSIONER FIRED BY TRUMP FILES LAWSUIT

DEMANDING REINSTATEMENT

By ALEXANDRA OLSON and CLAIRE SAVAGE AP Business Writers

A FORMER Democratic commissioner of the Equal Employment Opportunity Commission filed a lawsuit Wednesday challenging her dismissal by President Donald Trump, arguing her removal was a violation of the Civil Rights Act that created the agency to be an independent and bipartisan protector of the rights of workers. Jocelyn Samuels and another Democratic commissioner were from the five-member EEOC commission in January, an unprecedent move that swept away what would have been an key obstacle to Trump's campaign to dismantle diversity and inclusion programs, end protections for transgender and nonbinary workers and other priorities. Democracy Forward, a civil rights organization that is leading

several other cases against the Trump administration, filed the lawsuit on behalf of Samuels in U.S. District Court in the District of Columbia.

"This abrupt and unlawful termination before my term's completion not only violates federal law, but fundamentally eviscerates the EEOC's independent structure," Samuels said a statement.

The lawsuit names Trump, the EEOC and EEOC Acting Chair Andrea Lucas as defendants. The EEOC, through a spokesperson, said it would not comment on litigation.

In response to requests seeking comment about the lawsuit, White House spokesperson Taylor Rogers said in an email: "The Constitution gives President Trump the power to remove personnel who exercise his executive authority.

Position Title: Senior Project Manager

Position Title: Senior Project Manager

Location: Paradise Island, Bahamas

Location: Paradise Island Bahamas

•

Job Summary: Responsible for the overall progress of the onsite work management of labour, equipment, and material resources

Job Summary: Responsible for the overall progress of the onsite work, as well as the management of labour, equipment, and material resources

Key Responsibili<es:

• Manage the day-to-day acCviCes on site, including managing subcontractors and direct labour tracking against schedule, and monitoring quality, and safety.

Key Responsibili<es:

• Liaise with the logisCcs team to ensure materials, equipment and labour are on site when required

• Manage the day-to-day acCviCes on site, including managing subcontractors labour, tracking against schedule, and monitoring quality, and safety.

• Inventory management, check-in/receive materials, goods and equipment, ensure proper storage, and handling of all items RFI management between client team and contractors

• Liaise with the logisCcs team to ensure materials, equipment, and required

• Work alongside design and commercial colleagues to produce work package scopes and RFPs, to be sent out to consultants and contractors

• Supervise the quality of work both by direct labour and contractors. Assist with producing regular updates for senior management and ownership.

• Inventory management, check-in/receive materials, goods and equipment storage, and handling of all items

• RFI management between client team and contractors

Skills:

• Demonstrated leadership skills with prior Superintendent/Project Manager experience.

• Work alongside design and commercial colleagues to produce work RFPs, to be sent out to consultants and contractors

• Ability to accurately read drawings, details, secCons, plans, models, schedules etc.

• Supervise the quality of work both by direct labour and contractors.

• Must be IT literate and able to use MS Office suite of soPware, ability to use MS Project highly desirable

• Assist with producing regular updates for senior management and

• Experience with Procore construcCon management soPware is highly desirable.

• Must be proficient in reading/wriCng/conversing in English.

Skills:

• Basic first aid training and the ability to manage a medical emergency.

• Must have a valid Driver’s license

• Demonstrated leadership skills with prior Superintendent/Project

• Work a minimum of 40 hours per week plus addiConal hours as required

• Ability to accurately read drawings, details, secCons, plans, models

Educa<on/Experience Required:

• Must be IT literate and able to use MS Office suite of soPware, ability highly desirable

• Experience with Procore construcCon management soPware is highly

• University degree in ConstrucCon Management or closely related discipline Minimum of ten years progressively responsible and related experience in construcCon supervision in a UK or Caribbean contracCng environment

• Experience of marine, infrastructure, hospitality, and leisure projects.

• Must be proficient in reading/wriCng/conversing in English.

• Caribbean and/or internaConal experience is preferenCal (but not essenCal). The ability to operate a small boat (Approx. 30P) is advantageous

• Basic first aid training and the ability to manage a medical emergency.

• Physical Requirements:

• Must have a valid Driver’s license

• Work a minimum of 40 hours per week plus addiConal hours as required

• Must be able to remain in a staConary posiCon for long periods of Cme. Must be able to move about outdoors and on Company property to assist the wider daily operaCons of the organizaCon

Educa<on/Experience Required:

• Ability to work outside

• University degree in ConstrucCon Management or closely related

• Minimum of ten years progressively responsible and related experience supervision in a UK or Caribbean contracCng environment

• Experience of marine, infrastructure, hospitality, and leisure projects.

• Caribbean and/or internaConal experience is preferenCal (but not

CLEANUP UNDERWAY OF THE KEYSTONE OIL PIPELINE SPILL IN NORTH DAKOTA

By JACK DURA Associated Press

TRUCKS and workers started cleaning up the Keystone oil pipeline spill in rural North Dakota, though its cause and the project timing is unclear.

The pipeline ruptured Tuesday morning in southeastern North Dakota and was shut down within two minutes by an employee who heard a mechanical bang. An aerial photo released Wednesday shows a black, pondlike pool of oil suspended in a partially snowy field that's traversed by tire tracks.

A farmer told The Associated Press he could smell the scent of crude oil, carried by the wind.

South Bow, a liquid pipelines business that manages the pipeline, estimated the spill's volume at 3,500 barrels, or 147,000 gallons. Keystone's entire system remains shut down.

What caused the spill?

That's not yet known. The company is investigating what caused the spill and how long repairs might take, spokesperson Kristin Anderson said Wednesday.

The spill is not a minor one, said Paul Blackburn, a policy analyst with Bold Alliance, an environmental and landowners group that fought the pipeline's extension, called Keystone XL.

The estimated volume of 3,500 barrels, or 147,000 gallons of crude oil, is equal to 16 tanker trucks of oil, he said. That estimate could increase over time, he added.

Blackburn said the bigger picture is what he called the Keystone Pipeline's history of spills at a higher rate than other pipelines. He compared Keystone to the Dakota Access oil pipeline since the latter came online in June 2017. In that period, Keystone's system has spilled nearly 1.2 million gallons (4.5 million liters) of oil, while Dakota Access spilled 1,282 gallons (4,853 liters), Blackburn said.

In its update, the company said the pipeline "was operating within its design and regulatory approval requirements at the time of the incident."

Generally, underground oil pipelines can have a number of stressors, said Ramanan Krishnamoorti, vice president for energy

and innovation at the University of Houston. Those include corrosive elements from the liquid within the pipeline, changing temperatures, moving soil, movement from trains or construction equipment on the surface and stress to bends, turns and joints in the pipeline, he said.

The 2,700-mile (4,350-kilometer) pipeline originates in Alberta, Canada, and carries heavy tar sands crude oil south across the Dakotas and Nebraska before splitting to carry oil both to refineries in Illinois and south to Oklahoma and Texas.

The $5.2 billion Keystone Pipeline was built in 2010. TC Energy built the pipeline which is operated by South Bow as of last year.

How has the company responded?

The spill is contained to an agricultural field. In an update Wednesday, South Bow said it has multiple on-site vacuum trucks beginning to recover the oil. Continuous air quality monitoring is underway. The pipeline's affected segment is isolated, and the

company said it's evaluating plans for a return to service. Phone messages and emails were left Wednesday with the state Department of Environmental Quality and the Ransom County sheriff about the spill and response. Myron Hammer, an adjacent landowner who farms the land affected by the spill, said it hasn't yet adversely affected him, aside from the smell of crude oil or sulfur carrying when the wind blows in a certain direction. The pipeline company appears to be doing its due diligence to fix the problem, he said.

There's been a lot of truck traffic bringing equipment to the scene, he said. His house is about 1.75

Trump's 'buy' tip on social media before his tariffs pause made money for investors who listened

By BERNARD CONDON AP Business Writer

WHEN Donald Trump offered some financial advice Wednesday morning, stocks were wavering between gains and losses. But that was about to change.

"THIS IS A GREAT TIME TO BUY!!! DJT," he wrote on his social media platform Truth Social at 9:37 a.m.

Less than four hours later, Trump announced a 90-day pause on nearly all his tariffs. Stocks soared on the news, closing up 9.5%

by the end of trading. The market, measured by the S&P 500, gained back about $4 trillion, or 70%, of the value it had lost over the previous four trading days. It was a prescient call by the president. Maybe too prescient.

"He's loving this, this control over markets, but he better be careful," said Trump critic and former White House ethics lawyer, Richard Painter, noting that securities law prohibits trading on insider information or helping others do so.

"The people who bought

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NOTICE is hereby given that TAMERA NICOLE HOYTE of #14 Berrine Close, Sandilands Allotment, Prince Charles Drive, New Providence, The Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 3rd day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

when they saw that post made a lot of money."

The question is, Was Trump already contemplating the tariff pause when he made that post?

Asked about when he arrived at his decision, Trump gave a muddled answer.

"I would say this morning," he said. "Over the last few days, I've been thinking about it."

He then added, "Fairly early this morning."

Asked for clarification on the timing in an email to the White House later, a spokesperson didn't answer

directly but defended Trump's post as part of his job.

"It is the responsibility of the President of the United States to reassure the markets and Americans about their economic security in the face of nonstop media fearmongering," wrote White House spokesman Kush Desai.

Another curiosity of the posting was Trump's signoff with his initials.

DJT is also the stock symbol for Trump Media and Technology Group, the parent company of the

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miles (2.82 kilometers) away. "It's become a beehive of activity in the proximity there," Hammer said. Some of his property is being used as a staging area for equipment. He said he'll have to cancel plans to farm on roughly 5 or more acres of land impacted by the spill.

The spill site is north of Fort Ransom, a tiny town in a hilly, forested area known for scenic views and outdoor recreation. A state park and hiking trails are nearby.

The rupture in North Dakota occurred within 2 1/2 years of a December 2022 rupture in rural northeastern Kansas that dumped about 13,000 barrels of crude oil into a

president's social media platform Truth Social.

It's not clear if Trump was saying buying stocks in general, or Trump Media in particular. The White House was asked, but didn't address that either. Trump did not include "DJT" on his other posts Wednesday but he does use it intermittently, typically to emphasize that he has personally written the message. The ambiguity about what Trump meant didn't stop people from pouring money into that stock.

Trump Media closed up 22.67%, soaring twice as much as the broader market, a stunning performance by a company that lost $400 million last year and is seemingly unaffected

creek. The company attributed the rupture to a faulty weld in a pipe bend, saying it caused a crack that grew over time under stress.

A report drafted by an outside engineering consulting firm for U.S. government regulators later said the bend had been "overstressed" since its installation in December 2010, likely because construction activity itself altered the land around the pipe. A July 2021 report by the U.S. Government Accountability Office said the four biggest previous spills on the Keystone system were caused by issues tied to its original design, its construction or the manufacturing of the pipe.

by whether tariffs would be imposed or paused. Trump's 53% ownership stake in the company, now in a trust controlled by his oldest son, Donald Trump Jr., rose by $415 million on the day. Trump Media was bested, albeit by only two-hundreds of a percentage point, by another Trump administration stock pick — Elon Musk's Tesla. Last month, Trump held an extraordinary news conference outside the White House praising the company and its cars. That was followed by a Fox TV appearance by his commerce secretary urging viewers to buy the stock. Tesla's surge Wednesday added $20 billion to Musk's fortunes.

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NOTICE is hereby given that ANTHONY LYONS of Old Fort Bay, New Providence, The Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 3rd day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

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New Providence, The Bahamas applying to the Minister responsible for Nationality and Citizenship, for Registration Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 3rd day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

THIS photo provided by South Bow shows workers gathered to respond to the Keystone oil pipeline spill that occured Tuesday, April 8, 2025. near Fort Ransom, N.D. Photo:South Bow/AP

Senate Republicans express relief after Trump pauses tariff plans

By STEPHEN GROVES Associated Press

AS news that President Donald Trump was backing down on most of his tariffs reached a luncheon of Senate Republicans Wednesday, the room reacted with relief, cheers and smiles.

It capped an extraordinary 24 hours in Washington in which GOP senators had increasingly confronted the Trump administration with worries about the economic impacts of the president's sweeping tariff strategy. In Senate hearings and interviews with reporters, GOP skepticism of Trump's policies had run unusually high, amounting to a rare break with a president they have otherwise championed.

Lawmakers had reason to worry: the stock market had been in a volatile tumble for days, and economists were warning that the plans could lead to a recession.

As Republicans heard from businesses back home worried about the president's plans and navigated the political ramifications of crossing Trump, they engaged in a delicate twostep of urging the president to engage in negotiations and warning of the economic fallout of long-term tariffs, then shifting to praise for the president's economic vision. That strategy seemed to pay off Wednesday afternoon when Sen. Roger

Marshall broke the news to the roomful of fellow Republicans that Trump would back down on tariffs on most nations except China for 90 days. "It really lightened up the lunch discussion," said Sen. Mike Rounds, a South Dakota Republican, adding that there were cheers, clapping and "a lot of smiles."

Sen. Ron Johnson, R-Wisc., said he was relieved by the announcement and "we all would rather see the market rise than fall."

Just a day before, Republican senators had presented their concerns in stark terms to the Trump administration, even as they were careful to direct any criticism at the president's aides and advisors rather than the president himself.

"Whose throat do I get to choke if this proves to be wrong?" Republican

Sen. Thom Tillis asked U.S. Trade Representative Jamieson Greer in a Tuesday Senate hearing. Tillis was pressing for an answer on which Trump aide to hold accountable if there is an economic downturn. His frustration was aimed at the acrossthe-board tariff strategy that would have potentially hamstrung U.S. manufacturers, who are dependent on materials like aluminum and steel from China. His home state of North Carolina, where he is up for reelection next year, has

NOTICE is hereby given that GUERRIN SAINTIL of P#41 Royal Palm Street, Nassau, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 10th day of April, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

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“I feel like you’re in a very bad position here, this whole idea that this president made this switcheroo on you while you were in the middle of testifying here today.”

Rep. Tom Suozzi

attracted thousands of foreign firms looking to invest in the state's manufacturing industries.

Still, Tillis cautioned that the announcement "doesn't do much for certainty." He said that the 90 day pause may calm the market, but he wouldn't recommend to a CEO to deploy capital right now "when you don't know what the long term cost is going to be and the tax environment."

The unpredictability of Trump's strategy was on full display Wednesday, as even Greer seemed to have no clue that the announcement

was coming as he testified in the House Ways and Means Committee. Greer, who had told senators the day before that negotiations would take some time, had to adapt his message in real time.

"I feel like you're in a very bad position here, this whole idea that this president made this switcheroo on you while you were in the middle of testifying here today," said Rep. Tom Suozzi, D-N.Y.

Democrats pointed to the dizzying changes as a sign of Trump's capriciousness.

"This is government by chaos," said Senate Democratic Leader Chuck Schumer at a news conference. "He keeps changing things from day to day. His advisors are fighting among themselves, calling each other names, and you cannot run a country with such chaos."

But for Republicans, it was just Trump being Trump.

Sen. Kevin Cramer, a North Dakota Republican who is close with the president, argued that the unpredictability was a way

of gaining "leverage" in the negotiations.

"This is the way he's always been," Cramer added. "He even allows his own administration to have different views and have their own spats, and to do it publicly, because he follows all of that and he stays focused and watches the response from both his public and the world."

Yet Trump's pause only came after considerable urging from within his own party.

GOP senators, including in a group interview with Fox News Channel host Sean Hannity on Tuesday night, had voiced hopes Trump would act quickly in hopes of ending the economic tumult. Sen. John Kennedy, R-La., said Trump is like the "pit bull who caught the car" as other countries offer trade deals with the U.S. He added: "I hope he takes the deal."

Trump was also facing Republican lawmakers looking for ways to claw back their power over tariffs, which has been almost completely handed over to

the president in recent decades through legislation. Sen. Chuck Grassley, a senior Republican, has introduced a bipartisan bill to give Congress the power to review and approve new tariffs, and Republican members in the House were also working to gain support for a similar bill.

Trump on Tuesday night had said anyone who backed the legislation was a "rebel Republican" who "wants to grandstand."

"Let me tell you, you don't negotiate like I negotiate. Congress takes over negotiating, sell America fast because you're going to go busted," the president added.

Republican leaders in Congress, as well as a sizable chunk of lawmakers, had emphasized that Trump needs time to implement his strategy. They've mostly rejected the idea of putting a check on Trump's tariff power.

"I think people, by and large, accept the fact that the president campaigned on this and he deserves the opportunity to see what he can get done," Thune told The Associated Press.

SEN. THOM TILLIS, R-N.C., left, talks with U.S. Trade Representative Jamieson Greer ahead of a hearing at the Senate Finance Committee on Capitol Hill in Washington, Tuesday, April 8, 2025.

Photo:Mark Schiefelbein /AP

THE UNITED STATES AND CHINA ARE LOCKED IN A FACEOFF OVER TARIFFS. NO ONE WANTS TO BLINK FIRST

By DIDI TANG and ZEKE MILLER Associated Press

THE tariff fight between the world's two largest economies spiraled into greater peril Wednesday as President Donald Trump tried to narrow his global trade war into a direct — and risky — faceoff with Beijing.

As Trump reversed his larger "reciprocal" tariffs on most of the world in the face of recession fears, he nonetheless hiked his tariffs on China once again — to 125%. The move locks the strategic rivals into a deepening standoff that endangers both their economies and interests around the world. The stakes are higher than ever, as the U.S. and China are already embroiled in competition on everything from artificial intelligence to monetary policy to overall global influence.

Each nation dares the other to blink first. But the rounds of escalation are raising concerns that the window for diplomacy has narrowed even further, while the economic pain on both economies intensifies.

Behind it all, as usual, geopolitics lurks — the concerns about regional and global security that are always in play when economic relations between two of the world's most powerful nations turn aggressive.

"When you punch the United States of America," said Karoline Leavitt, the White House press secretary, "President Trump is going to punch back harder."

A back-and-forth approach

After Beijing responded to U.S. President Donald Trump's 34% "reciprocal" tax on China with the same 34% rate on American goods, Trump raised the tariff by another 50 percentage points, only to be met by the same tariff hike by Beijing on Wednesday morning. U.S. products going to China are now to be taxed 84%.

Hours later, Trump declared that Chinese imports to the United States would be "immediately" taxed at 125%, citing "lack of respect that China has shown to the World's Markets."

"At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable," Trump wrote on his Truth Social platform.

Treasury Secretary Scott Bessent insisted this had been Trump's strategy all along and that Beijing has "shown themselves to the world as the bad actors."

While the financial markets rebounded from their deepest lows at the news that China would be facing the brunt of Trump's wrath, the real-world prospects of the intensifying trade war with China were still set to be significant.

On Wednesday, the U.S.China Business Council urged the two leaders to "come to the table" and talk. "Targeted tariffs to encourage China to come to the negotiating table are one thing, but these sweeping tit-for-tat tariffs are in no one's interests. They will significantly harm the global, U.S., and Chinese economies as well as American businesses, farmers,

and consumers," the council said.

Trump has left little room to negotiate an off-ramp with China, short of that country capitulating — which would be anathema to Chinese President Xi Jinping.

"Xi will not be forced into a call," said Sun Yun, director of the China program at the Washington-based think tank Stimson Center. Only once in recent history, she noted, has a Chinese leader phoned the United States without invitation — after the 9/11 terrorist attacks. The trade tensions, if unchecked, could spill into other domains, she warned.

Craig Singleton, the senior China fellow at another Washington-based think tank, the Foundation for Defense of Democracies, agreed that a phone call from Beijing is "unlikely in this climate."

"Each side believes time is on its side, which raises the risk that neither moves to de-escalate until real damage is done," he said. "This is no longer about tariffs alone. It's a test of wills."

Both sides have their calculations

Before Trump's announcement, Bessent called it "unfortunate that the Chinese actually don't want to come and negotiate."

"And I can tell you that this escalation is a loser for them," Bessent said on Fox Business Network's "Morning with Maria" on Wednesday. "Their exports to the U.S. are five times our exports to China. So, they can raise their tariffs. But, so what?"

China has its own calculations. Its leadership, overseeing the world's second-largest economy, has vowed not to surrender to U.S. bullying.

While Trump's higherthan-expected tariffs caught other countries by surprise, China says it has been prepared, having learned a lesson from its previous tariff dealings during Trump's first term. In response to Trump's several rounds of tariff raises, Beijing has responded swiftly each time with a package of tariff and non-tariff measures.

"We have been in a trade war with the United States for eight years and have accumulated rich struggle experience," said an editorial by the ruling party's flagship newspaper People's Daily, dated Monday. The newspaper assured the Chinese public that "the sky will not fall."

"Facing the impact of U.S. tariff bullying, we possess strong resilience," the party newspaper said, citing the country's reduced dependence on exports to the U.S. market and new

measures to boost domestic consumption.

Since Trump imposed his first round of tariffs on China in 2018, Beijing's leaders have developed a toolkit of tariffs, import curbs, export controls, sanctions, regulatory reviews and measures to limit companies from doing business in China. All are designed to inflict pain on the U.S. economy and businesses in response to any trade move by the U.S. government.

Melanie Hart, senior director of the Global China Hub at the Atlantic Council, said Beijing is now "throwing the entire toolkit against" the United States, blacklisting companies, hitting American farmers and cutting the nation off from critical minerals.

"They have a bunker that they've been building for this moment," Hart said. "They're in the bunker. And if I'm Xi Jinping, I'm feeling a lot more comfortable than Donald Trump today."

But People's Daily also made it clear that Beijing remains open to talks. "Faced with volatility and extreme pressure from the United States," it said, "we have not closed the door to negotiations."

The country's official Xinhua News Agency, in an editorial, insisted as well that China doesn't want a trade war — but can fight one.

AN AMERICAN flag hangs in a store owned by Kyung Sook Im in the Toy District of Los Angeles, Wednesday, April 9, 2025, where the majority of the merchandise is imported from China. Photo:Jae C. Hong/AP